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An established and well-managed minerals and metal sector will accelerate Nigeria’s economic, social and political growth, the Vice President, Dr Goodluck Jonathan, has said.
In an address yesterday during the formal launch of the National Minerals and metal policy, public presentation of the Nigerian Minerals and Mining Act 2007 and the commissioning of the Ministry of Mines and Solid Minerals Development headquarters in Abuja, the Vice President said the sector is capable of boosting national income as well as create a salutary spin-off in all sectors of our national life. He said, "minerals and metals development will provide raw materials for local industries, create a local infrastructure base and generate wealth in rural areas. It is needless to add that the production of steel is an index of the development of the nation, and that this nation requires steel for the achievement of vision 2020." The Vice President said government places high premium on the development of the minerals and metal sector in view of its potentials to facilitate the realization of the administration’s vision. "Today’s launch of the national policy on minerals and metals marks yet another milestone by this administration to fast tract the transformation of our country into a modern nation." Presenting the new Minerals and Mining Act, 2007 to the public, the Senate President, Senator David Mark, said the key element in mineral wealth is not the resources itself but how it is exploited. He said an orderly and responsible mining regime, operating within a transparent and predictable legislative and fiscal framework can be a major source of prosperity for government and its people. Represented by Senator Gorge T. Sekibo, the Senate President said Nigeria has missed the opportunity to attract the massive foreign investment in the mining sector despite its huge mineral resources due to the absence of modern and competitive mining policy and legislation.
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